The 2022 food truck industry is currently estimated to be worth around $1.2 billion and is growing year over year.
Food truck’s are nothing new, but the industry has experienced a sort of renaissance in the last decade as cities become more friendly to operators and more opportunities arise for vendors to enter and compete within the growing industry.
Low start up costs, light labor (As compared to brick-and-mortar restaurants) and generally good returns has attracted the attention of chefs and savvy operators.
The US Food Truck Food Industry
- 35,000 - 40,000 food trucks actively operate within the US.50,000+ people work in the food truck industry, though many more work indirectly (mechanics, equipment sales, etc).
- Starting a food truck will generally cost between $70,000 and $130,000.
- Average food truck revenues typically fall between $250,000 and $500,000 if they are still operating after 3 years.
- The food truck industry is worth $1.2 billion and is expected to grow 3-5% in 2023.
Size and growth of the US Food Truck Industry
The US food truck industry is currently worth $1.2 billion and is expected to grow 3-5% in 2023.
How many food trucks are in the US?
Between 35,000 and 40,000 food trucks currently operate within the US. That number is up almost 50% more than the number that we're operating in 2022 (24,000).
How much does it cost to start a food truck?
Starting a food truck will generally cost between $70,000 and $130,000. Chefs and operators often choose food trucks because of the cost in comparison to a brick-and-mortar restaurant which now costs 3-5x the initial start-up costs compared to a food truck.
Costs can vary based on state laws, permits and depending on the truck and equipment you purchase. Purchasing a used truck is the financially savvy move as long as you are ok with second generation equipment.
What state has the most food trucks?
Actively operating food trucks various by season, events and state.
- California has 750 - 1,000 food trucks
- Texas has 500 - 750 Food Trucks
- Florida has 500 - 700 Food Trucks
What percent of food trucks fail?
Around 40% of food trucks are still operating after 3 years of starting. That means around 60% of food trucks don’t make it 3 years, a typical success rate in the hospitality industry.
